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Factors governing consumers buying behavior concerning nutraceutical product

Summary

This study examines why people buy nutraceutical products like health supplements and functional foods. Key factors include knowing the health benefits, product taste and packaging, affordability and availability, and recommendations from healthcare professionals. The study found that age, education, and gender affect purchasing decisions, and online shopping has become increasingly important. Companies should focus on innovative products with simple health messages to better serve different consumer groups.

Background

Consumers are increasingly attracted to nutraceuticals due to health consciousness and lifestyle-related diseases. The nutraceutical market has grown significantly from USD 320 billion in 2020 to USD 352.92 billion in 2021, with expectations to reach USD 658.11 billion by 2028. Various factors influence consumer purchasing decisions toward nutraceutical products.

Objective

This review aimed to identify factors governing consumer purchasing of nutraceutical products and understand consumer attitudes toward buying behavior. A mini survey was conducted in Mumbai, India to identify practical data on factors affecting consumer willingness to buy nutraceutical products.

Results

Key factors affecting nutraceutical purchasing include health consciousness, product knowledge, availability, price, marketing strategies, and social factors such as gender, age, education level, and acculturation. Nutraceutical market is segmented by type (functional foods 40%, dietary supplements, functional beverages), forms (capsules, tablets, liquids, powders), and regions with Asia-Pacific leading at 46.8% market share. Packaging, palatability, e-commerce accessibility, and professional recommendations significantly influence consumer decisions.

Conclusion

Nutraceutical industries should overcome regulatory barriers and focus on developing innovative products with simple, informative advertisements and easy-to-carry formats. Harmonization of legislation globally is needed to expand the nutraceutical market, and industries should address both health-conscious and non-health-conscious consumer segments differently.
  • Published in:Food Science & Nutrition,
  • Study Type:Review,
  • Source: 10.1002/fsn3.3518, PMID: 37701202
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